Canadian Securities Course (CSC) Practice Exam · Question
What is the maximum coverage provided by the Canadian Investor Protection Fund (CIPF) for eligible customer accounts in the event an investment dealer becomes insolvent?
CIPF provides coverage for losses of securities and cash held by a member firm up to $1,000,000 per general account (e.g., cash, margin, RRSP, RRIF combined) in
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Question: What is the maximum coverage provided by the Canadian Investor Protection Fund (CIPF) for eligible customer accounts in the event an investment dealer becomes insolvent?
Answer options: ✅ $1,000,000 per general account
- $2,500,000 per general account
- $100,000 per account category
- Unlimited coverage
Correct answer: $1,000,000 per general account
Explanation: CIPF provides coverage for losses of securities and cash held by a member firm up to $1,000,000 per general account (e.g., cash, margin, RRSP, RRIF combined) in the event of insolvency.
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